40 Geneva Lane

Property Overview: 40 Geneva Lane, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home in Fraipont is a modern property, built in 2019, offering a move-in-ready foundation with room for personalization. Its key appeal lies in its balance of being newer construction within a well-established context. With 1,468 sqft of living space, it sits comfortably around the average for its immediate street and the wider city, suggesting a practical, manageable size for many households.

The home’s standout characteristic is its age. It ranks in the top 3% of homes on Geneva Lane and the top 4% citywide for being newly built, meaning it likely benefits from contemporary building standards, energy efficiency, and minimal immediate repair needs. The detached garage adds flexible storage or workshop space. It’s important to note the basement is present but not renovated, representing both a cost-saving on the purchase price and a clear opportunity for future expansion or customization to suit an owner's needs.

This property would suit first-time buyers or downsizers looking for a modern, low-maintenance home without the premium often attached to brand-new subdivisions. It’s also a sensible fit for a pragmatic buyer who values a newer structure but sees potential in finishing spaces like the basement themselves over time. The data suggests it offers above-average value citywide for its assessment, but presents a more affordable entry point within the Fraipont area itself, where many homes are assessed higher.

Section 2: Frequently Asked Questions

1. Is this a good value for the neighbourhood?
The assessed value is below the average for Fraipont, placing it in the 76th percentile (meaning it's assessed lower than 76% of comparable homes in the area). This could indicate a relative value opportunity within this specific neighbourhood.

2. What does "basement not renovated" imply?
The basement is structurally complete but unfinished. You should budget for and plan the cost/time to insulate, frame, drywall, and floor the space to make it liveable. This is a significant project but allows you to customize the space to your exact needs.

3. How does the lot size compare?
The land area is 3,298 sqft, which is below average for both Fraipont and Winnipeg overall. This means lower exterior maintenance but may limit options for large additions, pools, or extensive landscaping.

4. The home sold in 2021 and 2019. What does that history show?
The public price ranges show appreciation between the 2019 and 2021 sales. For the exact sold prices to inform your offer, you need to request them directly via the provided email service.

5. What are the less obvious considerations?
As one of the newest homes on the block (ranked 1 of 31 for year built on Geneva Lane), you may have fewer immediate major repairs than neighbours. However, being newer in an older area means future resale comparisons may be less straightforward. Also, the "around average" living space citywide is a positive, but the below-average lot size for the area is a trade-off to weigh regarding outdoor space.